"Is HNT going to be worthless?", "Am I going to be mining SOL?",
"Is my HNT going to be converted to SOL?", "Is my hotspot going to mine HNT?", etc.
This can be confusing, we get that. Let us break down the way the Helium network is going to be utilizing SPL tokens for payments and rewards settlements.
The Data Credit used for Helium data transfer is pegged to the USD. It is created by burning some amount of HNT. As the price of HNT fluctuates, DC remains static, providing users predictability.
After the 18th, LoRaWAN hotspots will be mining the IOT token, the same way 5G radios mine MOBILE. These subtokens are redeemable for HNT through the Helium wallet app, and the exhchange rate will be determine by the volume of HNT and the relative subtoken contained in the treasury.
The Helium Native token represents a flywheel for rewarding deployers for network participation. Each subDAO burns DC to move data, and earns HNT into their treasury based on their DAO utility score.
The more subDAOs Helium onboards, the greater DC burn is taking place,
which increases the scarcity of HNT.
After the migration to Solana,
HNT will no longer be a token contract on the Helium native blockchain,
but will be an SPL token, or "Solana Program Library" token. The relationship between the Helium Native Token, DC, and the subDAO tokens remains unchanged. 100,000DC still = $1, HNT still burnt to create DC, DC still used to transfer data,
subDAO tokens rewarded to miners, and can be burnt 1-way in exchange for HNT.
This token standard provides developers, exhanges, and users,
as all updates are handled accross all platforms from the back end and require little intervention of the users of the network to stay up to date.
NO! This is a really popular question in the Discords, we encourage you to share resources like this that shine light on the migration. HNT will become scarcer after the migration because hotspots will no longer mine the token. The demand will increase with network adoption. HNT on SOL provides the same utility to the network, a rewards mechanism for TIPIN, or Token Incentivized Physical Infrastructure Networks, to allow networks to reward providers of their service for deploying and maintaining their nodes/devices.